Street Calls of the Week
Onfolio Holdings Inc. (NASDAQ:ONFO), a $5.28 million market cap company that has seen its stock decline 24.63% year-to-date, reported Friday it has raised $1 million through the sale of 20 unregistered equity units, according to a statement based on a recent SEC filing.
The company disclosed that on Tuesday it sold seven units, each consisting of 37,037 shares of common stock and a warrant to purchase an additional 37,037 shares at an exercise price of $2.50 per share. Each unit was sold at $50,000, totaling $350,000 for the initial sale. The warrants expire on August 30, 2027. According to InvestingPro data, the company has shown strong revenue growth of 78.36% but remains unprofitable in the last twelve months.
As of Thursday, Onfolio Holdings had sold an additional 13 units under the same terms, bringing the aggregate total to 740,740 shares of common stock and warrants to purchase 740,740 shares, with gross proceeds of $1 million. Want deeper insights? InvestingPro subscribers have access to over 30 additional financial metrics and analysis tools.
The securities were issued through subscription agreements with investors. The company stated that the sales were exempt from registration under the Securities Act of 1933, utilizing Section 4(a)(2) and Regulation D or Regulation S, as applicable.
Onfolio Holdings’ common stock and warrants are listed on the Nasdaq Capital Market under the symbols ONFO and ONFOW, respectively.
This information is based on a press release statement contained in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Onfolio Holdings, Inc. announced a dilutive issuance of securities affecting the terms of its publicly traded common stock purchase warrants. This issuance, detailed in a recent SEC filing, modifies the rights of warrant holders under the company’s existing Warrant Agreement. Despite these changes, each outstanding warrant still allows the purchase of Onfolio Holdings’ common stock at an exercise price of $2.50 per share, with no immediate action required from warrant holders. Additionally, Onfolio’s subsidiary, Pace Generative LLC, has introduced new service offerings aimed at enhancing AI visibility. These offerings include Branded Mentions, Community Mentions, and GEO Audits, designed to provide businesses with flexible engagement options in Generative Engine Optimization. This expansion aims to make GEO strategies more accessible to clients without requiring full monthly commitments. These developments highlight Onfolio Holdings’ ongoing efforts to adjust its financial instruments and expand its service capabilities.
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